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Ten Questions to Ask your Prospective Lender

Ask prospective lenders these questions to help ensure you make the best choice:

  1. Interest Rate – How much is it? Fixed or variable? When does interest capitalize and how often?
  2. Loan Amount – Is there a maximum? Can I borrow more than the cost of my education? Can I use the loan to pay off a prior year’s balance owed to my school?
  3. Co-signers – Is a co-signer required? Is there a co-signer release process? Will having a co-signer lower the interest rate?
  4. Fees – Is there an application fee? Are there any disbursement fees? Are there any repayment fees?
  5. Disbursement – Is the loan check payable to me or the school? How long does it take to receive the funds?
  6. Borrower Benefits – Are there interest rate reductions that reward me for on-time payments or other actions?
  7. Repayment – What will my minimum payment be? When does payment begin? How long is the repayment period? Is there a prepayment penalty?
  8. Billing – Will I get one bill for all of my private loans? Can private loan bills be combined with federal loan bills?
  9. Customer Service – Whom do I call with questions about the application? Is that the number I’ll call once I’m making payments?
  10. Deferments – Will payments be deferred while I’m in school? If so, will interest continue to accrue?

Contact Financial Aid

Student Financial Services
Keene State College
229 Main Street
Keene, NH 03435-2606

800-572-1909 • 603-358-2280
Fax: 603-358-2794

Book an Appointment with a Financial Aid Counselor